The Tax & Accounting business of Thomson Reuters has released its latest version of the Sabrix Application Suite, the company’s on-premise, global transaction tax solution that seamlessly connects to all financial applications required for the determination, calculation, and recording of transaction taxes.

The latest version responds to market demand for more flexibility to support global businesses including emerging country taxation in Brazil, part of the BRIC countries (Brazil, Russia, India, and China), the world's fastest growing and potentially largest economies.

Since 2002, Sabrix has invested in helping global companies stay compliant with transaction tax legislation in Brazil offering jurisdiction determination; registration validation; accurate and up-to-date rates, rules, limited logic, and content for product taxability; and cross-border, free trade zones on goods and services for Brazilian tax authorities at the country, state, and municipal levels.

The latest version of Sabrix Application Suite also includes:

A new tax calculation method for Inclusive Tax (PIS and COFINS only) for even broader support of global taxation laws;

Enhanced calculation methods for Tax on Product Amount (Brazil only) and ISS (Brazil only);

Single sign-on functionality that allows companies to use a third-party solution so that users only have to enter their credentials once in their network environment to gain access to the Sabrix Solution;

Two new tax types that provide more explicit identification for Not Liable tax results for transactions associated with the EU and other countries where VAT is applicable.